A leading indicator of the British economy increased for the third successive month in March, suggesting that the economy will continue to expand slightly over the near term, data from a survey by the Conference Board showed Tuesday.
The leading economic index increased 0.4 percent month-on-month to 102.8 in March, after recording a similar growth in the previous month. In January, the index rose by 0.2 percent. Three of the seven components made positive contributions to the index.
"Improved business confidence along with an expansion of the Funding for Lending Scheme could help boost business investment", Conference Board Europe economist Brian Schaitkin said.
"However, weak Euro Area economic performance and continued austerity measures remain difficult headwinds to overcome."
Meanwhile, the coincident economic index, which measures the current situation, stayed unchanged at 104.1 in March, following February's 0.2 percent gain.
During the six months ended March, the leading index decreased 0.2 percent, while the coincident index moved up 0.3 percent, data showed.
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